SDCC 2014: Tekken 7 Extended Announcement Trailer

Two weekends ago, Tekken 7 was announced at Evo 2014 with a brief teaser promising an extended version of it at this year's San Diego Comic-Con. That promise was delivered with the full-length trailer below from the Namco Bandai fighting games panel.

Just like the teaser indicated, Tekken 7 will mark the end of the Mishima saga with the involvement of Kazuya's mother Kazumi along with answering questions such as why the Mishimas throw each other off volcanoes in past games, Devil Jin's origins, and more.
In terms of any gameplay, Katsuhiro Harada said that they are still finalizing the mechanics, but the game will indeed be an one-on-one fighting game and not including the Tag systems from the Tekken Tag Tournament games. Only one character is confirmed returning besides the Mishimas which is Lars, who is announced he will be redesigned by various guest artists.
In case for those wandering whether or not Tekken x Street Fighter is still in development limbo, Harada did address that the crossover game is still in the works, but with plenty of projects he's been working on such as Rise of the Incarnates and Tekken 7, it will still be a while till we see Tekken x Street Fighter.
Tekken 7 still has no release window will be using Unreal Engine 4.